Loan Comparison: 2.84% vs 6.5%
11922 Bellaire, Thornton, CO 80233 · 2bd/2ba · $255,500
List Price
$255,500
Assumable Rate
2.84%
Remaining Balance
$226,207
Equity Gap
$29,292
Loan Type
FHAAdjust Your Scenario
$12,775
$12,775$29,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,534/moAssumable @ 2.84% + gap loan
$1,061/moAssumed loan: $934/mo
Gap financing: $127/mo
$473less per month with the assumable
Your Savings on This Property
11922 Bellaire, Thornton · 2.84% FHA vs 6.5% conventional
$473
per month
$5,675
per year
$170,243
over 30 years
$170,242
interest saved
How gap financing works: The equity gap ($29,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,775, 5% of purchase price) and a second mortgage for the rest ($16,517 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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